By naming CPCC as a beneficiary in your will, you may obtain a charitable estate-tax deduction for the value of the bequest. You will also know that your generosity will support CPCC for years into the future.

Contingent Trust Beneficiary in Will

Last Wills and Trusts usually provide for assets to be distributed to loved ones. However, you can name CPCC as a contingent beneficiary should the primary beneficiary pre-decease you. CPCC will receive the bequest only if the primary beneficiary is unable to take it.

Gifts That Pay You Income

Would you like to support CPCC but you are worried about having enough income for yourself and your loved ones? Life-income gifts such as gift annuities and charitable trusts provide donors an income stream for life, significant tax savings, and the satisfaction of supplying CPCC vital, long-term resources.

Gift Annuity

In establishing a gift annuity at CPCC, you make an irrevocable gift in exchange for a guaranteed lifetime payment stream to you, your spouse or both. You will receive an immediate income tax deduction. Also, annuity payments may generate more usable income than current investments provide. This can be a way to increase retirement income. At the same time, you will help meet the needs of future generations of students.

Charitable Remainder Trust (CRT)

This gift allows donors to sell appreciated assets in a tax-favored manner. It pays an income to you, and assets remaining at the end of the trust arrangement pass to CPCC. This provides and income tax deduction upon contribution and the avoidance of capital gains when the trust sells assets. It can also provide a potentially higher income that can last for one or more lives. Assets are removed from estate.

Retirement Plan/IRA

You may designate CPCC as a beneficiary of your IRA while providing life income to you and your heirs. Donors can also make IRA rollover gifts to CPCC. For individuals over 70 ½, this gift qualifies for the IRA minimum distribution and may lower taxes.

Life Insurance

You can choose to leave a legacy through a gift of life insurance. You may gift a policy you already own that is no longer needed for its original purpose. You will receive an immediate tax deduction for the value of the policy. A donor may also choose to give annual premiums to the College, and these out-of-pocket contributions are tax deductible. A gift of life insurance is an opportunity to perhaps make a larger deferred gift for a manageable cost.

Planned Giving Matrix

Each stage of life presents different financial planning issues. Our Planned Giving Matrix will help you navigate those issues. It will help you develop long-term and short-term financial strategies and charitable giving solutions that will provide favorable tax treatment and help solve problems you may be facing.

Individuals who are 70 ½ years of age or older can continue to enjoy tax savings by making charitable gifts directly from their Individual Retirement Accounts (IRAs).

For a charitable gift from an IRA in 2011 not to be taxed as income, the following must be true: the IRA holder is age 70 ½ or older;

the total amount of gift(s) disbursed must be $100,000 or less;

the nonprofit receiving the gift must be a 501(c)(3) organization, eligible to receive tax-deductible contributions; and

the distribution must go directly from the IRA to a charity.

The Legacy Society

Membership in the CPCC Legacy Society is open to individuals who inform us that they have provided for the College in their wills or trusts, or through other planned giving options. Click here for more information.